Total’s announcement in September of a major discovery of natural gas in the Azerbaijani offshore block of Absheron has highlighted the importance of the Caspian Sea region in the global hydrocarbons markets. However, a number of obstacles remain in the path of development projects, including operational difficulties, legal implications and geopolitical relations. President Ilham Aliyev announced the “happy news” of the Absheron discovery in a special statement to the nation. He held out the prospect of new export markets for growing volumes of Azerbaijani gas, as well as additional volumes for domestic consumption. Absheron and other discoveries allow Azerbaijan growing flexibility to undertake export commitments and meet domestic requirements at the same time.

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